Benefits of llp

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Shreyash

Shreyash (Querist)
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29 January 2014 whats the benefit of LLP against partnership firm?

Also to know the registration procedure of LLP?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 January 2014 benefits are simple:

1. corporatized structure.

2. limited liability

3. better acceptance in market

Incorporation:

Step 1: Incorporate a LLP

Apply for the name of the LLP to be registered by filing Form 1 ( Application for reservation or change of name) for the same. After that depending upon the proposed LLP, file required incorporation Form 2 ( Incorporation document and Subscriber’s statement)

Once the form has been approved by the concerned official of the Ministry, you will receive an email regarding the same and the status of the form will get changed to Approved. To know more about eFiling process click "All About eFiling"

Step 2: File LLP Agreement

After incorporation of LLP, an initial LLP agreement is to be filed within 30 days of incorporation of LLP. The user has to file the information in Form 3 ( Information with regard to Limited Liability Partnership Agreement and changes, if any, made therein).

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